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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Ethylene Glycol Market Share
The growth of the ethylene glycol market can be attributed to its widespread use in a variety of sectors. Monoethylene glycol (MEG) is expected to experience significant development over the forecast period. It is important in the textile and packaging industries, where it is used to make polyester fibres and polyethylene terephthalate (PET) resins.
Increased vehicle production, technical advancements, growing aftermarket demand, regulatory regulations, and rising consumer expectations for a better driving experience all have an impact on the ethylene glycol market dynamics.
Continuous advances in car technologies, such as adaptive systems and enhanced safety features, for high-performance ethylene glycol products drive ethylene glycol demand growth. Furthermore, changing regulatory laws aimed at environmental protection and emissions reduction force producers to innovate and produce eco-friendly ethylene glycol compositions.
Ethylene Glycol Market Report Snapshots
Ethylene Glycol Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global ethylene glycol market attained a value of nearly USD 48.21 billion.
The global ethylene glycol market is assessed to grow at a CAGR of 4.7% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 72.82 billion by 2032.
The market is driven by the increasing demand for PET resins and rising applications of the product in the automobile sector.
The growing emphasis on sustainability and the rising shift in interest towards bio-based ethylene glycol are expected to propel the market expansion in the coming years.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The different end-uses are plastic, transportation, textile, and oil and gas, among others.
The key players in the market include Shell PLC, BASF SE, Mitsubishi Chemical Group, Saudi Basic Industries Corporation, Reliance Industries Ltd, China Petrochemical Co., Ltd. (SINOPEC), Formosa Plastics Corporation, INEOS AG, LOTTE Chemical Corporation, and India Glycols Limited, among others.
The leading types in the market are Monoethylene Glycol (MEG), Diethylene Glycol (DEG), and Triethylene Glycol (TEG).
The significant modes of manufacturing process of ethylene glycol in the market are Ethylene Oxide, Coal, Biological Route, and others.
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